Milton S. Hershey was raised in rural central Pennsylvania, dropped out of school when he was 13 years old, and was nearly bankrupt by the time he was 30. He went on to “become not only one of America’s wealthiest individuals, but also a successful entrepreneur whose products are known the world over, a visionary builder of the town which bears his name and a philanthropist whose open-hearted generosity continues to touch the lives of thousands.”
Hershey’s has acquired several other companies over the years: H.B. Reese Candy Company (1956); San Giorgio Macaroni and Delmonico Foods (1966); manufacturing and marketing rights to English candy company Rowntree MacKintosh’s products (1970); Y&S Candies, makers of Twizzlers licorice (1977); Dietrich Corp.’s confectionery operations (1986); Peter Paul/Cadbury’s U.S. confectionery operations (1988); and Ronzoni Foods (1990).
“Today, The Hershey Company is the leading North American manufacturer of chocolate and non-chocolate confectionery and grocery products.” They export to over 90 countries, employee approximately 13,700, and have net sales in excess of $4 billion.
NYSE: HSY --8/27/10 Close: $47.09 Change: +$0.60
The more I know about American companies, the more I admire American’s entrepreneurship. It is difficult to imagine that Mr. Hershey was nearly bankrupt when he was 30.
ReplyDeleteI didn’t know Hershey was so big.